Stolt-Nielsen Nominates Two New Directors

Stolt-Nielsen announced that Roelof Hendriks and James B. Hurlock have been nominated to the Board of Directors of SNSA. The company shareholders will be asked to vote these candidates onto the Board at the Annual General Meeting on July 7, 2004 at 2:00 p.m. local time, at the offices of Services Generaux de Gestion S.A., 23, avenue Monterey, L-2086 Luxembourg. The new appointments will increase the number of SNSA Directors to nine, and raise the number of outside Directors by one. The appointments also position the Company for compliance with the Sarbanes-Oxley requirements for boards of directors by January 2005.

The Company added that Mr. Hendriks will serve on the Audit Committee as its financial expert and that Mr. Hurlock, as previously announced, will chair an SNSA board committee to oversee all legal issues.

Mr. Hendriks has been Chief Financial Officer and a Member Board of Management of CSM N.V since 2000. Prior to that, he was a Vice Chairman Executive Board, Koninklijke Vopak N.V. He held various positions at Koninklijke Vopak N.V. and its predecessor, Van Ommeren, from 1980 until 2000. Mr. Hendriks received a law degree from Vrije Universiteit, Amsterdam. He is a Dutch citizen.

Mr. Hurlock served as Interim Chief Executive Officer of Stolt-Nielsen Transportation Group from July 2003 to June 14, 2004. He also serves as a Director of Stolt Offshore S.A. Mr. Hurlock is a retired partner from the law firm of White & Case LLP and served as Chairman of its Management Committee from 1980 to 2000. He holds a BA degree from Princeton University, an MA Jurisprudence from Oxford University and a JD from Harvard Law School. Mr. Hurlock is a U.S. citizen.

"Mr. Hendriks and Mr. Hurlock will provide valuable financial and legal expertise to the Board," said Jacob Stolt-Nielsen, Chairman of the Board of Stolt-Nielsen S.A. "We look forward to benefiting from their counsel."

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